Allied Nevada Achieves First Quarter 2014 Guidance With Production of 60,114 Ounces of Gold and 412,506 Ounces of Silver
http://web.tmxmoney.com/article.php?newsid=66948799&qm_symbol=ANV
RENO, NEVADA--(Marketwired - April 8, 2014) - Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV)(NYSE MKT:ANV) reports that first quarter 2014 production and sales targets were achieved at its wholly owned Hycroft mine in Nevada. Preliminary first quarter 2014 production and sales, as compared with production and sales in the comparative 2013 period, were as follows:
(See news release for production chart)
"Overall, we continue to see improved operational performance at Hycroft," commented Randy Buffington, President & CEO. "Our silver to gold ratio improved steadily through the second half of 2013 to date as we increased the percentage of our metal produced as doré. We look forward to the benefits that the crusher is expected to bring us in the second quarter with increased recoveries for both metals, which we believe should result in a further increase of the silver to gold ratio."
Hycroft continues to benefit from the increased mining capacity and improvements that have been implemented to the heap leach operation over the last few years. Silver production and sales improved in the first quarter, up approximately 14% and 15%, respectively, from the fourth quarter of 2013 and more than double the first quarter of 2013. Silver production and sales have improved significantly with the increased solution processing through the Merrill-Crowe plant as compared with the carbon columns, which are less efficient in extracting silver. Gold sales were slightly lower than the fourth quarter of 2013 due to lower grades mined in the last year, but were more than double the ounces sold in the comparative first quarter of 2013 and within the upper limit of our first quarter 2014 guidance range.
We expect to issue first quarter 2014 financial results during the week of May 5, 2014.
Prefeasibility Update
We are reviewing the results of the prefeasibility study, led by M3 Engineering and Technology, and expect to issue those results in mid-April, 2014. |
